When Your Best Customers Don’t Want What You’re Selling
Predicting Customer Behavior: A Data Science Journey Through Insurance Marketing Imagine you’re a marketing director at an insurance company launching a new product. Your team is excited — this offering consolidates coverage in ways customers have been asking for. You’ve got a database of 14,000 customers. The question keeping you up at night: Who should we target? Common wisdom says target your loyal customers, right? People who already trust you and buy your products. Spend your marketing budget on those established relationships. But what if the data told you the exact opposite? What if your most loyal customers, the ones already using your products, were the least likely to buy your new offering? This is the story of a real predictive analytics project that challenged conventional marketing wisdom — and revealed surprising truths about customer behavior. It’s also a story about mistakes, corrections, and the messy reality of data science work. The Challenge: 14,000 Customers...